Repsol looks for partner in €900 m hydro project; EDP Renováveis sells US solar‑battery assets for $800 m

Spanish energy group Repsol is seeking a financial minority partner to fund the expansion of the Aguayo reversible hydroelectric plant (Aguayo II) in Spain. The project will add about 1,000 MW to the existing 360 MW capacity, reaching roughly 1,400 MW, and is valued at €900 million. Repsol intends to keep majority control while bringing in technical and financial expertise; the project has cleared all major regulatory steps and is awaiting a final investment decision.

Portuguese renewable developer EDP Renováveis has agreed to sell an 80 % stake in a 384 MW solar‑plus‑battery portfolio in California to a fund managed by Ares Infrastructure Equity. The transaction values the assets at $800 million, with EDP receiving about $450 million at closing. The 200 MW solar portion is covered by a 20‑year power purchase agreement, while the 184 MW battery storage operates under a capacity‑tolling agreement.